Asian markets led lower by tumbling tech stocks

By Dow Jones Newswire

Bloomberg News

Foxconn employees work on n assembly line in Shenzhen, China. Foxconn shares fell over 1% Friday.

Asian stock markets dropped Friday, as a global selloff for tech stocks continued in the region amid reports that Chinese spy chips were implanted in products sold outside the country.

Japan’s Nikkei /zigman2/quotes/210597971/delayed JP:NIK -0.96%   fell 0.8% following an overnight rebound in the yen /zigman2/quotes/210561789/realtime/sampled USDJPY +0.1385%  . As tech stocks sagged in the U.S., chip-equipment maker Tokyo Electron /zigman2/quotes/202883609/delayed JP:8035 -0.80%   dropped 2.6% and was at one-year lows. Electronics, consumer goods and energy stocks led the declines. Financials were higher, though, as U.S. bond yields continued to rise, causing equity-investor concerns but being seen as good for lenders and heavy bond investors. Life insurer T&D /zigman2/quotes/208425761/delayed JP:8795 -0.74%   was up 1.5% while bank Resona /zigman2/quotes/203178794/delayed JP:8308 -1.60%  rose 2%. Meanwhile, electronics maker TDK /zigman2/quotes/208948266/delayed JP:6762 +0.20%   and cosmetics firm Shiseido /zigman2/quotes/207601624/delayed JP:4911 -0.42%   were down 3%- 4%.

Hong Kong stocks continued to drop after Thursday’s skid left the Hang Seng Index below the Dow industrials on a closing basis for the first time since April 2013. The benchmark /zigman2/quotes/210598030/delayed HK:HSI -0.80%   was down 0.2%, off its worst levels of the session. Tencent /zigman2/quotes/204605823/delayed HK:700 +3.10%   was down 1.1% and at fresh year-plus lows. Insurer AIA /zigman2/quotes/203565558/delayed HK:1299 -0.85%   fell, putting the week’s swoon at about 10%. But HSBC /zigman2/quotes/202687335/delayed HK:5 -1.01%   was up almost 1%. A number of Apple Inc. suppliers, such as AAC Technologies /zigman2/quotes/201441510/delayed HK:2018 -0.53%   and Sunny Optical /zigman2/quotes/206687505/delayed HK:2382 -0.25%  , saw their shares sink following a Bloomberg News report that China may have secretly planted spy chips in some servers used by Apple /zigman2/quotes/202934861/composite AAPL +0.88%   and Amazon.com Inc /zigman2/quotes/210331248/composite AMZN -1.85%  . Both American tech giants strongly denied the report.

Apple suppliers Foxconn /zigman2/quotes/204111604/delayed TW:2354 -0.40%  and Taiwan Semiconductor /zigman2/quotes/207385621/delayed TW:2330 -1.33%  fell as well, weighing down Taiwan’s Taiex  .

South Korea’s Kospi /zigman2/quotes/210598069/delayed KR:180721 -0.33%   slipped 0.3%, as Samsung /zigman2/quotes/209800866/delayed KR:005930 +1.82%   shed early gains to drop into the red despite forecasting record operating profit in the third quarter.

Australia was again the lone gainer in the region, as the ASX 200 /zigman2/quotes/210598100/delayed AU:XJO -0.21%   rose slightly. Benchmarks in New Zealand /zigman2/quotes/211587880/delayed NZ:NZ50GR -0.33%  and Singapore /zigman2/quotes/210597985/delayed SG:STI +0.31%   fell, while Malaysia /zigman2/quotes/210598052/delayed MY:FBMKLCI -0.15%   was about flat. Markets in mainland China remained closed for a weeklong holiday.

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NIKKEI 225 Index

JP : Nikkei

28,942.14

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Japanese Yen

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135.2500

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Tokyo Electron Ltd.

JP : Japan: Tokyo

¥ 45,920.00

-370.00 -0.80%

Volume: 1.07M

Aug. 18, 2022 3:00p

P/E Ratio

16.91

Dividend Yield

3.65%

Market Cap

¥7228.95 billion

Rev. per Employee

¥129.55M

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T&D Holdings Inc.

JP : Japan: Tokyo

¥ 1,467.00

-11.00 -0.74%

Volume: 1.14M

Aug. 18, 2022 3:00p

P/E Ratio

N/A

Dividend Yield

4.23%

Market Cap

¥801.41 billion

Rev. per Employee

¥189.87M

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Resona Holdings Inc.

JP : Japan: Tokyo

¥ 510.10

-8.30 -1.60%

Volume: 7.83M

Aug. 18, 2022 3:00p

P/E Ratio

11.22

Dividend Yield

4.12%

Market Cap

¥1226.38 billion

Rev. per Employee

¥41.75M

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TDK Corp.

JP : Japan: Tokyo

¥ 5,070.00

+10.00 +0.20%

Volume: 2.64M

Aug. 18, 2022 3:00p

P/E Ratio

10.57

Dividend Yield

2.09%

Market Cap

¥1906.35 billion

Rev. per Employee

¥17.06M

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Shiseido Co. Ltd.

JP : Japan: Tokyo

¥ 5,519.00

-23.00 -0.42%

Volume: 1.84M

Aug. 18, 2022 3:00p

P/E Ratio

29.04

Dividend Yield

1.81%

Market Cap

¥2207.97 billion

Rev. per Employee

¥28.91M

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Hang Seng Index

HK : Hong Kong Exchange

19,763.91

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Aug. 18, 2022 4:08p

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Tencent Holdings Ltd.

HK : Hong Kong

$ 312.60

+9.40 +3.10%

Volume: 32.21M

Aug. 18, 2022 4:08p

P/E Ratio

14.18

Dividend Yield

0.51%

Market Cap

$2880.08 billion

Rev. per Employee

$5.99M

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AIA Group Ltd.

HK : Hong Kong

$ 75.50

-0.65 -0.85%

Volume: 18.65M

Aug. 18, 2022 4:08p

P/E Ratio

15.81

Dividend Yield

1.93%

Market Cap

$913.05 billion

Rev. per Employee

N/A

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HSBC Holdings PLC (HK Reg)

HK : Hong Kong

$ 50.45

-0.51 -1.01%

Volume: 14.53M

Aug. 18, 2022 4:08p

P/E Ratio

9.63

Dividend Yield

4.20%

Market Cap

$1040.97 billion

Rev. per Employee

$2.57M

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AAC Technologies Holdings Inc.

HK : Hong Kong

$ 14.96

-0.08 -0.53%

Volume: 2.50M

Aug. 18, 2022 4:08p

P/E Ratio

11.40

Dividend Yield

1.34%

Market Cap

$18.01 billion

Rev. per Employee

$566,423

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Sunny Optical Technology Group Co. Ltd.

HK : Hong Kong

$ 119.70

-0.30 -0.25%

Volume: 3.31M

Aug. 18, 2022 4:08p

P/E Ratio

29.62

Dividend Yield

0.93%

Market Cap

$131.87 billion

Rev. per Employee

$1.70M

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Add to watchlist AAPL

Apple Inc.

US : U.S.: Nasdaq

$ 174.55

+1.52 +0.88%

Volume: 79.54M

Aug. 17, 2022 4:00p

P/E Ratio

28.84

Dividend Yield

0.53%

Market Cap

$2780.72 billion

Rev. per Employee

$2.52M

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Add to watchlist AMZN

Amazon.com Inc.

US : U.S.: Nasdaq

$ 142.10

-2.68 -1.85%

Volume: 48.15M

Aug. 17, 2022 4:00p

P/E Ratio

127.17

Dividend Yield

N/A

Market Cap

$1474.95 billion

Rev. per Employee

$302,178

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Foxconn Technology Co. Ltd.

TW : Taiwan

NT$ 50.20

-0.20 -0.40%

Volume: 1.26M

Aug. 18, 2022 1:30p

P/E Ratio

18.44

Dividend Yield

3.39%

Market Cap

NT$71.29 billion

Rev. per Employee

N/A

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Taiwan Semiconductor Manufacturing Co. Ltd.

TW : Taiwan

NT$ 520.00

-7.00 -1.33%

Volume: 18.33M

Aug. 18, 2022 1:30p

P/E Ratio

17.69

Dividend Yield

2.12%

Market Cap

NT$13613.45 billion

Rev. per Employee

NT$28.83M

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KR : Korea Exchange

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Samsung Electronics Co. Ltd.

KR : S. Korea: KRX

₩ 61,500.00

+1,100 +1.82%

Volume: 16.36M

Aug. 18, 2022 3:30p

P/E Ratio

9.33

Dividend Yield

2.35%

Market Cap

₩410238.41 billion

Rev. per Employee

₩2.46B

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S&P/ASX 200 Benchmark Index

AU : S&P ASX

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